The release of PBCom's 2004 Annual Report coincided with the Bank's
Annual Stockholders' Meeting last June 21, 2005.
The Annual Report theme, "On Course. On Target", aptly describes the Bank's
efforts to achieve sustained profitability after successfully completing the
sale of its non-performing assets to a special purpose vehicle or SPV.
The sale followed the P3.0 billion capital infusion by the major shareholders
that complemented the financial enhancement package obtained from the
Philippine Deposit Insurance Corporation (PDIC) and the Bangko Sentral ng
Pilipinas (BSP).
These accomplishments have allowed the Bank to pursue with great determination
the Bank's growth strategies to further strengthen its financial position and
bring PBCom on course towards sustained growth and profitability.
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